I think price is retesting the monthly level at 1.34, looking for a 3rd bounce on the daily trendline (red), and going all the way down to the weekly trend line
which matches with the 78.6% fib level and the weekly level at 1.32.
fib 0% at the 2nd bounce of the daily trendline (red).
which matches with the 78.6% fib level and the weekly level at 1.32.
fib 0% at the 2nd bounce of the daily trendline (red).